Property Description

Introducing 1047 Morris Avenue, a newly renovated brick six-family townhouse offered at $1,999,999. It combines modern finishes, high in-place income, and future upside in the fast-growing Concourse Village corridor. With approximately $180K in gross income and an estimated $145K NOI, the property delivers a ~7.2% cap rate. That makes it a compelling opportunity for investors seeking a high-quality, free-market asset at roughly $333K per door.Inside, each residence has custom finishes and a thoughtful layout: flint-grey cabinetry, stone breakfast bars, stainless steel appliances, and hardwood flooring throughout. Spacious living rooms open onto the kitchens, which is ideal for entertaining, and well-placed powder rooms add convenience. Bedrooms easily fit full furniture sets, and each unit has wall units for efficient heating and cooling.The six-family configuration includes:Two 2-bedroom / 1-bath unitsThree 1-bedroom unitsOne studio apartment with ground-floor accessThe building also has parking for two vehicles, common laundry, a security camera system, and pet-friendly policies. Tenants pay their own utilities.For long-term value, the property is zoned R7-1, which allows approximately 3,498 additional buildable square feet. That is a meaningful development or expansion opportunity.The building sits in the Concourse section of the Bronx, moments from playgrounds, supermarkets, restaurants, schools and extensive transit (4, B, D trains plus the Bx32, Bx19, Bx21, Bx33 and M125). Quick access to major roadways and the George Washington Bridge makes commuting easy.Whether you're an investor seeking strong income with upside or an owner looking for a modern, turnkey asset, 1047 Morris Avenue stands out as a premier opportunity in Concourse Village.

Property Features

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